Apartment prices

From high to low and back to high again

2008 was the golden age for the housing market as apartment prices hit an all-time high and 2017 was the worst point with prices falling to their lowest levels. In seven years the housing market has almost "wiped out" the financial crisis and prices based on the Bank of Greece index are now within statistical error of the 2008 highs.

In the fourth quarter of 2024, current apartment prices rose by 6.6% compared to the same quarter in 2023, recording an overall increase of 73% from the third quarter of 2017 (which was the index's lowest point), but remaining 0.4% below the historic high of the third quarter of 2008.

For all of 2024, apartment prices across the country remain 1.28% lower than the 2028 highs although they have recorded a 72.37% increase from 2017. The picture is not uniform, however. As the graph below shows, the prices of newly built apartments (up to 5 years old) as well as Athens apartments have already "erased" the economic crisis and are now above the golden year of 2008.